account

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Account

In the context of bookkeeping, refers to the ledger pages upon which various assets, liabilities, income, and expenses are represented.

In the context of investment banking, refers to the status of securities sold and owned or the relationship between parties to an underwriting syndicate. In the context of securities, the relationship between a client and a broker/dealer firm allowing the firm's employee to be the client's buying and selling agent. See: Account executive; account statement.

Account

An agreement between an institution and a person, or another institution, whereby the first institution agrees to hold money and/or other assets on behalf of the second. What the holder may do with those assets depends upon the nature of the account. In a checking account and a savings account, a bank holds money for the client and pays it (them or he/she) a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulation. However, the client has the right to withdraw the total amount of money on demand. In a brokerage account, a brokerage holds money and securities for the client and makes transactions with them at the client's request. In exchange, the brokerage charges commissions for the transactions.

account

1. The client of a broker, brokerage firm, or broker-dealer. The client may be a business, an individual investor, or an institutional investor.
2. The record of a client's transactions and investment position. See also account statement.

account

  1. a LEDGER record in which is entered details of all financial transactions relating to an individual supplier (in the creditors' ledger), or customer (in the debtors' ledger), or particular asset or liability (in the assets ledger), or type of expense or receipt (in the nominal ledgers). See DOUBLE ENTRY ACCOUNTS, ACCOUNTING.
  2. a BANK or BUILDING SOCIETY'S record of its dealings with a particular customer which itemizes the customer's business with the bank such as deposits of cash and cheques and withdrawals of funds.
  3. a CUSTOMER. A ‘key account’ is an important customer.
References in periodicals archive ?
Asked whether ruler Bashar al-Assad should be brought to account, he answered indirectly: "Assad is the chief in the state.
. VERDICT: Bonkers bankers brought to account with brio.
"As far as I am aware the directors of Duo have never been brought to account. The company was managed in an appalling way, losing a horrendous amount of money in a short space of time.
He said: "We shall not rest until Blair, Bush and the rest are brought to account for the suffering they have brought to so many people, and until the illegal occupation of Iraq is ended."
AFTER weeks of campaigning on the deteriorating state of the NHS in Scotland, the SNP Government have been brought to account on the floor of the parliament.
Yes, of course, people who are accused of sexual misbehaviour should be brought to account, but after all these years for the victims to open a can of maggots that devours the whole family of the accused while leaving the accuser immune?
A council leader can be brought to account at any time in the course of the administration whereas an elected mayor, once in post, is there for the duration of the term.
It shows a total disregard for the disabled parking and blue badge system and whoever is responsible for this should be brought to account.
Sgt Heather Sloan said: "This led to a number of people being brought to account for their consistent failure to pay fines imposed on them by the courts.
"The sooner Mr Jones' incompetence is fully aired and he is brought to account, the better."
Those who sought to abuse such trust should be brought to account.
If they did, then surely this civil servant should be brought to account and, along with the doctor, sacked for incompetence.